Asia Has Economic Strength to Deal With Volatility, Singh Says

Asia will remain the global economic growth leader and the economies there are strong enough to deal with financial market volatility, Anoop Singh, director of Asia-Pacific at the International Monetary Fund, said at a press conference in Washington.

“Asia as a whole continues to grow robustly,” said Singh. Capital outflow from the region has been “orderly,” he said today.

Singh said monetary policies in the region remain “very accommodative,” which provides “insurance” against economic slowdown.

In some countries, policy makers need to further increase interest rates to stem inflation, he said. The biggest concern is that the necessary tightening of financial conditions becomes “disorderly,” he said.